10/04/2008

Stock price changes when House votes for Bailout


The market peaked right when the House passed the bill. It has amazed me how every change in the market over the last couple weeks has been taken as evidence of why the bailout is needed -- even when there has to be some real pretzel logic to accomplish this (e.g., the immediate drop in the futures for the DJIA after the bill passed the Senate was explained by concern with whether the House would then pass it).

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